Within three hours after the publication of Farrow's story, CNN reported that Moonves would step down from his position at
CBS effective immediately. A person familiar with the discussions said that Moonves will no longer receive any of his $100 million exit compensation, pending the results of the independent investigation into the allegations and that a portion of the amount ($20 million) he would have received will be donated to organizations focused on sexual harassment and assault.

The timing of Farrow's followup article was no coincidence, as the board of the CBS Corporation was reportedly very close to a settlement that would've cut ties with Moonves and ended the company’s lawsuit with parent company National Amusements, ahead of a court date on Oct. 3. These talks had been underway for well over a week at this point, and before this article came out, were expected to culminate tomorrow.

With claims as disturbing as these, an investigation should always supersede any payouts. Since Farrow's August article on Moonves, the CBS board had hired two law firms to investigate the allegations, which included claims of misconduct at CBS News and the company overall. The board told Farrow it's committed to a "thorough and independent investigation."

It's a fair assessment that no one ever truly knows what goes on behind closed doors, but when multiple people in any situation come forward with similar claims and stories, questions must be asked. One such question is: Despite contracts made between individuals and corporations, why is there ever any payout due when a person is accused of such things?

In this case, under his contract, Moonves was due as much as $180 million in severance and a production deal. The board, however, had offered roughly $100 million in an exit package made up almost entirely of CBS stock. As for the additional $80 million, sources said the board wanted the right to hold back a part of that compensation if sexual harassment allegations against Moonves were confirmed. If so, that money could and should be used for future settlements.Shouldn't the entirety of any money be held until there's been a full investigation in cases such as these? And, if these women's claims are proven as true, shouldn't all of this money go to his victims and organizations that help victims of sexual assault?

Again, it needs to be reiterated at this point, these are accusations. It's the nature of the claims, as reported by Farrow, that makes any payouts prior to the culmination of an investigation upsetting. As negotiations continued, shareholders and advocacy groups accused the board of failing to hold Moonves accountable for harassment and assault in incidents dating back to the 1980s, which continued over the span of three decades.

These women are accusing the network head of forcing them to perform oral sex on him, that he exposed himself to them without their consent and that he used physical violence and intimidation against them. A number of these women say their careers were damaged as a result of Moonves retaliating against them when they rejected his advances.

One of the women with allegations against Moonves is veteran television executive Phyllis Golden-Gottlieb. She told Farrow that she filed a criminal complaint late last year with the Los Angeles Police Department, accusing Moonves of physically restraining her and forcing her to perform oral sex on him, and of exposing himself to her and violently throwing her against a wall in later incidents when they worked together in the late 1980s. The first incident, she says, happened in 1986. Though law enforcement officials told Farrow they found her allegations to be credible and consistent, prosecutors declined to pursue charges because the statute of limitations for the crimes had expired.

Golden-Gottlieb, now in her early eighties and retired, says she didn’t report the incidents at the time because she was a single mother supporting two children and feared for her career. “I realized he was the new golden boy,” she told Farrow. “I just kept quiet.” But the incident, she said, “never left me.”

In a new statement that appears in Farrow's story, Moonves acknowledges three of the encounters reported in the article but says they were consensual. “The appalling accusations in this article are untrue. What is true is that I had consensual relations with three of the women some 25 years ago before I came to CBS. And I have never used my position to hinder the advancement or careers of women,” Moonves said. "In my 40 years of work, I have never before heard of such disturbing accusations. I can only surmise they are surfacing now for the first time, decades later, as part of a concerted effort by others to destroy my name, my reputation and my career. Anyone who knows me knows that the person described in this article is not me.” He did not specify which of the three encounters he was referring to.

Farrow's initial article included claims from four women that described “forcible touching or kissing during business meetings in what they said appeared to be a practiced routine.” The other two women detailed claims that Moonves physically intimidated them or threatened to derail their careers.

Moonves responded to the first set of accusations, saying he recognized that there were times decades ago when he may have made some women uncomfortable by making advances. "Those were mistakes, and I regret them immensely. But I always understood and respected—and abided by the principle—that ‘no’ means ‘no,’ and I have never misused my position to harm or hinder anyone’s career.”

Representatives of the #TimesUp movement have come out with a statement in light of today's article, saying in part, that they believe the additional six women. "These new allegations are in addition to the previous six women who have already bravely spoken out and detailed horrific behavior from Moonves. Nineteen current and former CBS employees have also alleged that former CBS News Chairman Jeff Fager condoned sexual harassment in his division."

Moonves, who joined CBS in 1995 as president of entertainment and has overseen the company since 2006, will be temporarily replaced by COO Joseph Ianniello, while the company searches for a permanent replacement. Under Moonves, CBS has been the No. 1 network in total viewers for 10 seasons in a row, and for 15 of the last 16 seasons.

The #TimesUp statement went on to say that these allegations speak to a culture of toxic complicity at CBS, where the safety of women was continuously ignored to protect the careers of powerful men and the corporation. "CBS, as you sit in a room debating next steps to rectify the damage done, remember that the world is watching. We will accept nothing less than full transparency of the investigation’s findings, a commitment to real change across all levels of CBS management and no reward for Les Moonves."

I have worked for several years as a freelance journalist covering breaking news with Reuters and entertainment-related stories with Variety. I am excited to now be a regular Contributor with Forbes covering film, television and music. I look forward to learning, and writin...